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View Full Version : Insuring your bourbon stash??



Vange
04-02-2007, 08:57
Some of you on this forum have a sizable stash of spirits. Do any of you insure it under your homeowners policy? Is that even possible?

heatmiser
04-02-2007, 09:18
That is a great question! My buddy just asked me thie same question this weekend. I am going to call my insurance company tis week to see if it would be covered under my regular policy or if I need a rider.

TomH
04-02-2007, 19:49
I checked with my agent previously and according to him it is covered under the household items section. There was no specific dollar limitation on alcohol (unlike jewelry and some other items that needed extra riders).

doubleblank
04-02-2007, 20:05
The last time I inquired.......I got a "not sure" from my agent. It's a consumable.....so that categorizes it somewhat. Was it stolen, lost in a fire.....or drunk? If it's a hazardous material, what are you doing with it in your house? Bottom line, I couldn't get a separate rider for it from State Farm but it would probably be covered as personal property in the event of a fire or theft. Certain items have specific limits.....so read your policy.

barturtle
04-02-2007, 20:15
There are a few companies that seem to specialize in wine collections, I think if you really wanted to insure your whiskey, they would be the people to look for.

cowdery
04-02-2007, 22:29
There's a case everybody reads in law school about a guy who insured his cache of expensive cigars, then filed a claim for their loss by fire. Not a single fire but a series of small fires, which consumed one cigar at a time.

He didn't prevail.

gothbat
04-03-2007, 06:49
There's a case everybody reads in law school about a guy who insured his cache of expensive cigars, then filed a claim for their loss by fire. Not a single fire but a series of small fires, which consumed one cigar at a time.

He didn't prevail.

Maybe you went to law school and are referring to a different case but I was reminded of what I think is the same story when I read this as well. However, after a search because I had originally read it in a chain email and reading this (http://www.snopes.com/crime/clever/cigarson.asp) I think the story is shens; up until now I thought it was true.

Vange
04-03-2007, 08:10
I just sent an email to this place. It seems they specialize in things like this.
If anyone is interested in the response just let me know and I can elaborate here.

http://www.fineartguy.com/SERVICEdescriptions/collectors.html

jsgorman
04-03-2007, 13:55
My wine and liquor collection is insured with Chubb. You do need to keep excellent records (fireproof containers are important), but they insure wine collections, fine art, etc...

cowdery
04-04-2007, 08:11
Maybe you went to law school and are referring to a different case but I was reminded of what I think is the same story when I read this as well. However, after a search because I had originally read it in a chain email and reading this (http://www.snopes.com/crime/clever/cigarson.asp) I think the story is shens; up until now I thought it was true.

A lot of hoaxes are based on real events but are then twisted into something else. At the same time, it may have been told to us in law school as a joke. I don't exactly remember. Obviously, the part about the company paying the claim then suing the man for arson is the joke part, but I seem to recall the facts about the fire loss claim being based on a real case. But I'm not going to swear to it. It wouldn't be the first thing from law school that I remember wrong.

tango-papa
04-04-2007, 08:29
My wine and liquor collection is insured with Chubb. You do need to keep excellent records (fireproof containers are important), but they insure wine collections, fine art, etc...

Strictly out of pure curiosity...
What kind of fireproof containers?
Fireproof Room?
Fireproof (enclosed) racks?
You must have some fancy stuff, eh?

TnSquire
04-04-2007, 09:13
I remember this case and the arson joke as well.



A lot of hoaxes are based on real events but are then twisted into something else. At the same time, it may have been told to us in law school as a joke. I don't exactly remember. Obviously, the part about the company paying the claim then suing the man for arson is the joke part, but I seem to recall the facts about the fire loss claim being based on a real case. But I'm not going to swear to it. It wouldn't be the first thing from law school that I remember wrong.

Russellc
04-04-2007, 15:54
A lot of hoaxes are based on real events but are then twisted into something else. At the same time, it may have been told to us in law school as a joke. I don't exactly remember. Obviously, the part about the company paying the claim then suing the man for arson is the joke part, but I seem to recall the facts about the fire loss claim being based on a real case. But I'm not going to swear to it. It wouldn't be the first thing from law school that I remember wrong.
I heard all sorts of "parables" in law school, the idea is to relate how cases are analyzed....the story need not be true, just demonstrate how one forms the issue, decides which rule applies, then analysis of the application of the rule to the issue, and finally come to a conclusion. cigars are a medium most lawyers are familiar with. sounds like an urban legend to me, but it demonstrates how certain rules of law work....here, if the insurance company would cover the "fire" then the insured commited arson...its just more fun to think of smoking your cigars than burning your house down!

Russellc

pepcycle
04-06-2007, 11:09
I couldn't believe it when my homeowner's insurance agent matter of factly referred me to someone who appraised my stash and I pay a straight percent of the appraised value.
If you're willing to pay, anything can be insured.
Having the rider, raised my homeowners insurance and I am required to post hazard stickers. (NFPA)
Having it all in one area of the home (>5 gallons) requires a flammables cabinet which is vented to the outside.

JamesH007
04-06-2007, 15:29
I am required to post hazard stickers. (NFPA)
Having it all in one area of the home (>5 gallons) requires a flammables cabinet which is vented to the outside.


That is Hilarious !! Please post a pic.....(of the sticker and vented cabinet)

ILLfarmboy
04-07-2007, 09:46
...
Having the rider, raised my homeowners insurance and I am required to post hazard stickers. (NFPA)
Having it all in one area of the home (>5 gallons) requires a flammables cabinet which is vented to the outside.

I had wondered about that very issue. Storage of gunpowder requires many of those the same precautions. I knew a gun shop owner who smoked (in his shop) which is prohibited by law. Every time he lit up he took a risk that the local Fire Marshall would walk in.

up in my 'reloading room' there is quite a bit of smokeless powder/primers etc. Downstairs in a large hutch I have about 50+ bottles. That's a lot of accelerant. I'm not sure my stash is worth insuring beyond what is covered as 'household goods' (I do have "replacement cost") but the liability issue, if any, is worth looking into. I'd hate to loose everything and give my insurance co. an excuse not to pay up.

full_proof
04-07-2007, 10:20
Having the rider, raised my homeowners insurance and I am required to post hazard stickers. (NFPA)
Having it all in one area of the home...

Hmmm...that raised a concern and forced me to quick action: I just printed out signs and to-scale locations of my bourbon bunker for the local volunteer firefighters to make a concerted effort to save my stash. My wife's a little pissed because it covered up the "Save Cat" stickers in the windows, but hey, we all have our own priorities. :slappin:

cowdery
04-08-2007, 14:43
I had wondered about that very issue. Storage of gunpowder requires many of those the same precautions. I knew a gun shop owner who smoked (in his shop) which is prohibited by law. Every time he lit up he took a risk that the local Fire Marshall would walk in.

up in my 'reloading room' there is quite a bit of smokeless powder/primers etc. Downstairs in a large hutch I have about 50+ bottles. That's a lot of accelerant. I'm not sure my stash is worth insuring beyond what is covered as 'household goods' (I do have "replacement cost") but the liability issue, if any, is worth looking into. I'd hate to loose everything and give my insurance co. an excuse not to pay up.

If your house ever does go up--God forbid--there will be quite a show.

TnSquire
04-18-2007, 10:26
I was thinking the same thing. You could play the Boston Pops in the background and rival the 4th of July. lol.

jsgorman
04-20-2007, 15:38
I have a rider on my policy that is for my stereo system, wife's jewelry and my wine and liquour collection. FWIW, my collection is worth well over $30K - so it is worth insuring.

I keep a set of records at home on my computer, at work on my computer and documented in a fireproof box at home.

Vange
11-15-2007, 14:27
I just got a policy after TONS of back and forth describing to the insurance company that I have spirits and only like 6 cases of wine and that the spirits are the most valuable pieces of my collection. Long story short, 30K coverage, $197 a year. No deductible and covers ALL risk factors. Also, it does NOT need to be under lock and key, but it can remain on my bar, in my closet, etc.

jburlowski
11-15-2007, 17:45
I just got a policy after TONS of back and forth describing to the insurance company that I have spirits and only like 6 cases of wine and that the spirits are the most valuable pieces of my collection. Long story short, 30K coverage, $197 a year. No deductible and covers ALL risk factors. Also, it does NOT need to be under lock and key, but it can remain on my bar, in my closet, etc.

Drink it man... drink it and convert the $197/yr into a few more bottles of your favorite pour.

Vange
11-15-2007, 19:52
Too much to drink al at once! I cant imagine the grief if something ever happened to my collection! 3 Hirsch 20s go up in smoke or get stolen? I would go into a coma! I feel safer this way and now I can sleep better.

Sijan
04-03-2008, 15:59
Vange, which company are you getting your insurance through? I need to get something similar to what you've got and don't want to deal with the hassle of fireproof safes and signs and the like.

Vange
04-04-2008, 07:19
Statefarm. It took literally a few moths of back and forth until the underwriters agreed and cut the policy. It might have helped that the agent was a friend of a friend so I think he really pushed it to make it happen. They did try to go the route of firesafes and locked cabinets, etc. I told them it's ridiculous, I have a big bar with lots of bottles and just want a policy for any hazard. They were used to wine insurance in properly stored cellars, but this spirit insurance threw them for a loop. They finally agreed to any hazard with one caveat, I am not insured for, get this, CONSUMPTION! Duh...

Sijan
04-04-2008, 11:19
Thanks, that sounds like a real pain in the neck...

Virus_Of_Life
04-04-2008, 13:06
They finally agreed to any hazard with one caveat, I am not insured for, get this, CONSUMPTION! Duh...

Well, sounds like you better not let me or just about any member here near it! :slappin:

I am actually pretty interested in this as my auto policy is up for renewal and my stash has reached the point where I want it covered somehow. I would like to change auto and get a policy on the collection going forward...

HighTower
04-04-2008, 18:42
Well, sounds like you better not let me or just about any member here near it! :slappin:

I am actually pretty interested in this as my auto policy is up for renewal and my stash has reached the point where I want it covered somehow. I would like to change auto and get a policy on the collection going forward...
Can you imagine it....."Oh my god I drank a blue wax Hirsch, I better put in a claim!":lol: